XAR vs. NIXT
XAR (SPDR S&P Aerospace & Defense ETF) and NIXT (Research Affiliates Deletions ETF) are both exchange-traded funds - XAR is a Aerospace & Defense fund tracking the S&P Aerospace & Defense Select Industry Index, while NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index. Both are passively managed. Over the past year, XAR returned 37.23% vs 31.07% for NIXT. A 0.58 correlation means they provide meaningful diversification when combined. XAR charges 0.35%/yr vs 0.09%/yr for NIXT.
Performance
XAR vs. NIXT - Performance Comparison
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Returns By Period
In the year-to-date period, XAR achieves a 12.43% return, which is significantly lower than NIXT's 17.85% return.
XAR
- 1D
- -0.54%
- 1M
- 2.15%
- YTD
- 12.43%
- 6M
- 16.39%
- 1Y
- 37.23%
- 3Y*
- 32.47%
- 5Y*
- 15.97%
- 10Y*
- 17.82%
NIXT
- 1D
- 0.30%
- 1M
- 0.86%
- YTD
- 17.85%
- 6M
- 17.13%
- 1Y
- 31.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XAR vs. NIXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XAR SPDR S&P Aerospace & Defense ETF | 12.43% | 46.15% | 11.69% |
NIXT Research Affiliates Deletions ETF | 17.85% | 4.94% | 4.89% |
Correlation
The correlation between XAR and NIXT is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024 | 0.58 |
The correlation between XAR and NIXT has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.
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Return for Risk
XAR vs. NIXT — Risk / Return Rank
XAR
NIXT
XAR vs. NIXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Aerospace & Defense ETF (XAR) and Research Affiliates Deletions ETF (NIXT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| XAR | NIXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 2.66 | -0.49 |
| Martin ratioReturn relative to average drawdown | 6.13 | 8.96 | -2.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XAR | NIXT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 1.47 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 0.70 | +0.14 |
Drawdowns
XAR vs. NIXT - Drawdown Comparison
The maximum XAR drawdown since its inception was -46.37%, which is greater than NIXT's maximum drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for XAR and NIXT.
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Drawdown Indicators
| XAR | NIXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.37% | -27.75% | -18.62% |
Max Drawdown (1Y)Largest decline over 1 year | -17.22% | -11.71% | -5.51% |
Max Drawdown (3Y)Largest decline over 3 years | -19.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.37% | — | — |
Current DrawdownCurrent decline from peak | -7.35% | -2.73% | -4.62% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -5.94% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.09% | 3.48% | +2.61% |
Volatility
XAR vs. NIXT - Volatility Comparison
SPDR S&P Aerospace & Defense ETF (XAR) has a higher volatility of 9.09% compared to Research Affiliates Deletions ETF (NIXT) at 5.00%. This indicates that XAR's price experiences larger fluctuations and is considered to be riskier than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAR | NIXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.09% | 5.00% | +4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 22.58% | 14.17% | +8.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.05% | 21.26% | +5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.46% | 23.28% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.65% | 23.28% | +1.37% |
XAR vs. NIXT - Expense Ratio Comparison
XAR has a 0.35% expense ratio, which is higher than NIXT's 0.09% expense ratio.
Dividends
XAR vs. NIXT - Dividend Comparison
XAR's dividend yield for the trailing twelve months is around 0.32%, less than NIXT's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NIXT Research Affiliates Deletions ETF | 1.35% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XAR SPDR S&P Aerospace & Defense ETF | 0.32% | 0.40% | 0.66% | 0.54% | 0.50% | 0.83% | 0.63% | 0.75% | 1.19% | 0.76% | 1.09% | 2.31% |
Frequently Asked Questions
XAR and NIXT have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XAR has higher volatility (9.09%) compared to NIXT (5.00%). In terms of maximum drawdown, XAR dropped -46.37% vs NIXT's -27.75%.
On 1-year performance, XAR leads with 37.23% vs 31.07% for NIXT. On fees, NIXT is cheaper at 0.09% per year. On volatility, NIXT has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XAR has performed better with a 37.23% return vs 31.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NIXT is cheaper with a 0.09% expense ratio, compared with 0.35% for XAR.
NIXT has the higher dividend yield at 1.35%, compared with 0.32% for XAR.
XAR is categorized as Aerospace & Defense, while NIXT is Mid Cap Value Equities. XAR tracks S&P Aerospace & Defense Select Industry Index, while NIXT tracks Research Affiliates Deletions Index. They also come from different issuers: State Street and Research Affiliates. Their fees differ too: 0.35% for XAR and 0.09% for NIXT.
NIXT currently has the higher Sharpe Ratio (1.47 vs 1.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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